Hindustan Zinc shares have had a mixed performance recently. Over the past month, the stock fell by 18.60%, reflecting a downtrend. In contrast, the stock has risen by 72.11% over the past six months, indicating a strong uptrend.
Hindustan Zinc shares fell over 7% in early trading on Friday after its promoter, Vedanta, said it will sell 13.37 crore shares of the company. (Photo: Company Website)
Shares of Hindustan Zinc fell over 7% in early trading on Friday following the announcement that its promoter, Vedanta Ltd., will sell 13.37 crore shares of the subsidiary through an Offer for Sale (OFS). This sale represents 3.17% of Hindustan Zinc’s total equity.
How Much Stake Vedanta Will Hold Now?
Vedanta, which currently holds a 64.92% stake in Hindustan Zinc, announced on Wednesday that it will now sell 13.3 crore shares, representing 3.17% of the total equity. This is an increase from the earlier plan to sell 11 crore shares, or 2.6% of the total equity, as part of the OFS.